Chinese battery electric vehicle (BEV) manufacturer Hozon Auto announced this week it has officially opened its first Neta Auto sales outlets in Brazil and Cambodia, as the automaker stepped up its global expansion strategy to offset fierce competition in its home market.
The struggling BEV manufacturer said it aims to double its overseas sales in 2025 from around 30,000 units last year, which it sold through over 180 sales outlets located mainly in South-east Asia and Latin America. The company said it aims to have ten sales outlets in operation in Brazil by the end of the first quarter of 2025, following the unveiling of the Neta Aya and Neta X at the end of last year.
Go deeper with GlobalData
Earlier this month Neta opened a new sales outlet in the Indonesian city of Bekasi and aims to have 30 sales outlets in operation in the country by the end of 2025.
Hozon’s global sales fell by around 27% to an estimated 100,000 vehicles last year, leaving the company struggling with mounting losses and in search of fresh funding. The company launched a cost-cutting programme last year to improve efficiency and minimise losses.
Hozon laid off around 400 workers at its Thai operations at the end of last year, after its local sales plunged by 45% as the number of Chinese BEV manufacturers entering this market continued to increase.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
